Power and Innocence in Finance

  • Nicolas Bouleau


An evolution has occurred over the past fifteen years concerning the role and the power of the state. In France, the governments of the fourth republic, despite their precariousness because of electora rules that make it difficult to produce majorities, have economic power comparable to that of a monarch in an ancient regime. The creation of money and devaluation are two tools that are at their disposal in a Keynesian context justifying the intervention by the state.


Financial Market Central Bank European Monetary System Lever Effect Single Currency 


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Copyright information

© Springer-Verlag London 1998

Authors and Affiliations

  • Nicolas Bouleau
    • 1
  1. 1.École des PontsParisFrance

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